Tesla Rises Above Ford, GM In Its Sight

Move over, Ford. Tesla is now the second most valuable car company in America, says CNN Money.
Tesla’s stock surged nearly 6% on Monday to an all-time high after the maker of electric cars reported strong sales of its Model S and Model X vehicles. Ford’s shares sank 3% following a weak sales report for March.

As a result, Ford’s market value is about $45 billion, while Tesla’s has climbed to almost $48 billion.

Tesla also inched closer to GM, whose stock fell 4% after it reported both a sales increase that was well below forecasts and higher inventories. GM’s market value is $50.8 billion. And Tesla is inching closer to Japan’s Honda. It’s worth about $54 billion.